The COVID-19 has been a great hit to the world. This devastating situation caused the global economy to deteriorate, drowning into a stalemate.
Hong Kong Economy
According to the First Quarter Economic Report, citizens’ private consumption expenditure dropped by 10.1%. Meanwhile, the GDP of Hong Kong decreased. This accounts for 8.9% from the 1st quarter in 2019 to the 1st quarter in 2020. The situation has imposed a huge burden on companies’ business. This is relatively more obvious among SMEs.
How does the Government help?
In light of the current situations, the government implemented different schemes. They aims to sustain the business of SMEs. Referring to our previous blog: “100% LOAN GUARANTEE FOR SMES 2020“, the government has offered loans for small and medium enterprises. This supports their business operations and acquisition of assets. Recapping the important information of the loan, the maximum amount of the loan per enterprise is the total amount of wages and rents for six months. A repayment period of 26 months is guaranteed.
Other than the above, the government launched a STEM Internship Scheme. The Scheme subsidies interns $10,500/month. It aims to encourage the STEM students to gain innovation-and-technology related experience, fostering their interests in pursuing a related career in the future.
Other Available Resources
Apart from the above, you may obtain tips to maintain your business by joining webinars! Multitudinous resources are available for obtaining business tips. Here are a few websites that you may find useful.
In Our Co-working Space
In retrospect to our previous blog, measures have also been taken to provide a safe and comfortable environment for our members. Here is a recap of the precautions we have taken.
- All members and visitors have to measure their body temperatures before entering. We forbid anyone with high body temperature.
- All members have to fill in an official health declaration form. Everyone should state all travelling history and health conditions clearly for record.
- Providence of essential medical materials, including masks, alcoholic sanitizers, and thermometers in sufficient quantity for every member.
- Our team will keep updating important policies and news for our members via email and notice board.
- To ensure a safe distance, we will reduce half of the seats to keep members isolated safely for work.
Despite making every endeavor to boost your business under the pandemic, don’t forget to care about yourself! Do stay healthy under the pandemic!
Come and join us! See you @ WYND.